APOS: Online Video Headed for 15% Annual Growth, Disrupting Asia Markets

A blistering 15% annual growth of online video will give the Asian video industry (TV, pay-TV, home entertainment and streaming) a growth rate nearly double that of North America for the next five years.According to a new report from Media Partners Asia, published on the eve of the APOS conference in Indonesia, Asia’s online video business is forecast to grow from $26 billion in 2019, to $52 billion in 2024. Asia will have a 4.5% annual growth rate that compares with just 2.5% forecast for North America over the same period. The overall Asian video business will have revenues of $154 by 2024.With the Asian TV business growing at just 1% per year, online will expand and account for fully a third of the Asian video business by 2024.The Asia figures are skewed by China’s enormous digital appetite – it counted 612 million long form video users and 648 mil. short video users, at the end of 2018 – but with China separated out the forecast growth in the region is still strong. Online video in the rest of the region is also forecast to enjoy 15% annual growth, and to increase its revenues from $10 billion in 2019 to $21 billion by 2024.